On average, listings lease in the $30's per square foot per year. The Ballston - Virginia Square region is going through a decrease in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 20% decrease in rent.
Compared to the rest of the Washington D.C. market, the Ballston - Virginia Square submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 300% of the available space in the Ballston - Virginia Square are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 11,240 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 10 stories. Most buildings in this area were built in 1995 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Ballston - Virginia Square occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.